Renaissance Technologies LLC Buys 52,400 Shares of Ally Financial Inc. (NYSE:ALLY)

Renaissance Technologies LLC increased its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 127,300 shares of the financial services provider's stock after purchasing an additional 52,400 shares during the quarter. Renaissance Technologies LLC's holdings in Ally Financial were worth $4,584,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ALLY. Principal Securities Inc. grew its position in Ally Financial by 89.4% during the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after buying an additional 496 shares in the last quarter. Kestra Investment Management LLC bought a new position in Ally Financial in the fourth quarter worth $43,000. UMB Bank n.a. boosted its stake in Ally Financial by 218.8% during the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock worth $56,000 after buying an additional 1,061 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Ally Financial by 38.5% in the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock valued at $77,000 after buying an additional 595 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Ally Financial during the 4th quarter worth about $78,000. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Up 2.2 %

Shares of NYSE:ALLY traded up $0.70 during trading on Wednesday, hitting $32.11. 6,501,678 shares of the company's stock traded hands, compared to its average volume of 3,523,356. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. The company has a 50-day moving average price of $34.75 and a 200-day moving average price of $36.10. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.43 by $0.15. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $2.04 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.74%. Ally Financial's dividend payout ratio is currently 88.24%.

Analyst Ratings Changes

ALLY has been the subject of a number of analyst reports. Truist Financial cut their price target on shares of Ally Financial from $45.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Ally Financial from $43.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group increased their price objective on Ally Financial from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Compass Point upgraded shares of Ally Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $37.00 to $41.00 in a research note on Monday, April 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 target price on shares of Ally Financial in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.69.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson acquired 8,200 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the purchase, the chief financial officer now directly owns 236,421 shares in the company, valued at approximately $7,284,131.01. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rhodes bought 25,634 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the purchase, the chief executive officer now directly owns 25,634 shares of the company's stock, valued at $1,002,033.06. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 52,934 shares of company stock worth $2,008,170. 0.67% of the stock is owned by insiders.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.